% of % of product product Q3 2011 sales Q3 2010 sales $M $M R&D (US GAAP) 201.5 20% 197.9 25% Impairment of intangible assets (16.0) - Up-front payment to Acceleron - (45.0) Depreciation (5.6) (4.4) R&D (Non GAAP) 179.9 18% 148.5 19%
Non GAAP R&D was up $31.4 million, or 21%, due to growing investment in a number of targeted R&D programs, including Sanfilippo A and other early stage development programs, in addition to increased investment in new uses for VYVANSE. Non GAAP R&D in Q3 2011 also included expenditure on the development programs acquired with Movetis and ABH, neither of which were incurred in Q3 2010.
On a US GAAP basis, R&D costs in Q3 2011 also include an intangible asset impairment charge, and Q3 2010 included the up-front payment to Acceleron.
% of % of product product Q3 2011 sales Q3 2010 sales $M $M SG&A (US GAAP) 452.1 44% 392.4 49% Intangible asset amortization (46.4) (31.2) Impairment of intangible assets - (42.7) Depreciation (16.7) (16.1) SG&A (Non GAAP) 389.0 38% 302.4 38%
Non GAAP SG&A increased by $86.6 million, or 29% as we continue to support the growth of our existing and newly launched products. Non GAAP SG&A in Q3 2011 included expenditure for ABH and Movetis which was not incurred in the same period in 2010.
On a US GAAP basis, SG&A costs in Q3 2010 included an impairment charge to write down the DAYTRANA intangible asset to its fair value less costs to sell following agreement to divest the product to Noven Pharmaceuticals Inc. ("Noven").
For the three months to September 30, 2011 Shire recorded reorganization costs of $5.0 million (Q3 2010: $9.7 million) relating to the transfer of manufacturing from its Owings Mills facility and the establish
|SOURCE Shire plc|
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